What Wall Street expects from Apple’s earnings report today

“Wall Street analysts are expecting Apple to report revenue of $61.57 billion and earnings per share of $2.78, according to a Refinitiv survey,” Steve Kovach reports for CNBC. “Analysts are predicting sales of 47.5 million iPhones, 10.53 million iPads and 4.87 million Macs, according to StreetAccount and FactSet.”
“A big theme will be the rising average selling price (ASP) of the iPhone,” Kovach reports. “If Apple can hit the Street’s estimate for earnings per share, that would mark a 34 percent increase from a year earlier.”
“Bernstein analyst Toni Sacconaghi wrote last week that Apple’s bet to charge more for the iPhone will pay off in a big way. He predicted an $800 ASP for iPhones in the fourth quarter, up 29 percent from the year-ago quarter,” Kovach reports. “That figure doesn’t even account for the iPhone XR, which went on sale at the beginning of the current period. Many predict the XR will be the most appealing model and could increase ASP quite a bit more during the holiday quarter. Apple’s guidance on Thursday should provide even more clues as to how well the more expensive iPhones will sell.”
Read more in the full article here.
MacDailyNews Note: As always, we’ll report Apple’s earnings results right around 4:30pm EDT today, right after the closing bell, and then follow up with live note from Apple’s conference call with analysts (look for that link on our home page around 4:45pm EDT).